If a perfectly competitive firm finds that the price exceeds its ATC, then the firm
A) will raise its price to increase its economic profit.
B) will lower its price to increase its economic profit.
C) is making an economic profit.
D) is incurring an economic loss.
E) is making zero economic profit.
C
Economics
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Looking at the supply-side effects on aggregate supply shows that a tax hike on labor income
A) decreases potential GDP. B) weakens the incentive to work. C) increases potential GDP because people work more to pay the higher taxes. D) Both answers A and B are correct. E) None of the above is correct.
Economics
The overall mortality rate in the United States has remained fairly constant for the past 30 years
Indicate whether the statement is true or false
Economics